Sorry, a bit late on this one.
As Paul and dv8 stated, illustrator is best for this type of graphics.
As always, there are many ways to accomplish things and here is another option.
You can start with a white background, I left mine transparent.
If you added a background layer, create a new layer here.
In Photoshop, you can use the
Ellipse Tool (Shape tools).
Set you
fill color to black and turn off the
stroke option.
Here's the trick, when you create an ellipse, hold and maintain your
mouse click while dragging, also hold down your s
hift key to make a perfect circle! While holding the mouse click and the
shift key, hold down the
space bar to position the circle! When your have it positioned where you like it
release the mouse click first!
Next. On this same layer, change the
Path Operations to "subtract front shape".
Create a new circle where you want to subtract from the black circle shape you just created!
I colored a white circle in the image below ONLY to demonstrate the position!
When you release you
mouse click you should have this.....
On a new layer, repeat the steps above to create the smaller circles.
![Screen Shot 2014-01-18 at 7.56.19 AM.png Screen Shot 2014-01-18 at 7.56.19 AM.png](https://www.photoshopgurus.com/forum/data/attachments/30/30383-74e56544000cf7f2e1af1b124397c179.jpg?hash=dOVlRAAM9_)